Join Vince Gethings, as he chats with Nick Earls and Eric DiNicola, good friends for almost 20 years that has always shared the same goal of buying a rental property for passive income but has learned how to scale up their goals and the product is the idea of condo development in Boston. Venturing into the condo development business, Nick and Earl’s projects are ground-up construction of condos instead of conversions. This growth and change in mindset allowed them to be open to the business and in turn make more money with the projects that they undertake. Other than condo developments, the pair will also share the details of other facets of the business that they do in this episode so be sure to stay tuned!

About Nick Earls and Eric DiNicola:

 Nick is the co-founder and managing principal of Winterspring Capital and has over a decade of experience in all phases of commercial real estate, including asset management, sales, new construction development, and property management. While building his own portfolio, he has also guided many investors down the path of multifamily investment, management, or development. He is an expert on underwriting and asset management in the multifamily space and also the author of the top-rated book “Making Millions through Multi-Family Development.”

 Eric DiNicola, co-founder and managing principal, has a strong financial background spanning over a decade. Eric understands the importance of investment diversification. He began working in public equity in 2010 and moved into the private equity markets where he worked on valuations and capital raising. Joining forces with Nick in 2015, he leveraged his investment experience and expertise to accelerate the growth of their real estate business. Heading up their acquisitions team, Eric leans on his extensive broker network to keep their deal pipeline full. 

Winterspring Capital is a real estate investment firm that focuses on multifamily and mixed-use development within the greater Boston area. They form real estate syndications for every new investment, which allows accredited individuals to invest with us completely passively. 

Their team sources new opportunities, underwrite deals, negotiates purchases, and implements the business plan for each property we purchase. Their investors get to share in all of the benefits of owning real estate without having to do any of the work themselves. We also offer the opportunity for qualified individuals to invest through their self-directed IRA.

 

Outline of the episode:

●    [01:01] About Nick and Eric’s shared goal and how they reached it

●    [04:50] The structure they follow in making deals and details on seeing it through

●    [13:13] Moving forward from one project to another, baptism by fire

●    [19:29] Office conversion side of the business

●    [25:06] How they utilize tax credits

●    [29:34] Nick and Eric’s take on a diverse portfolio

●    [36:18] Book recommendations for the viewers

●    [40:43] Nick and Eric’s remarkable traits and talents

●    [48:11] Advice to professionals working towards financial freedom

 

Connect with Nick Earls and Eric DiNicola:

WebsiteEric’s LinkedInNick’s LinkedIn

 

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